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On December 23, 2024, Fiserv, Inc. agreed to acquire Payfare Inc. for CA$201.5 million in cash, offering CA$4.00 per share—a 90% premium to its December 20 closing price. The deal was approved unanimously by Payfare’s board and supported by key shareholders. Keefe, Bruyette & Woods and Blair Franklin Capital Partners acted as financial advisors, with Borden Ladner Gervais LLP and Dentons advising Payfare, and Blake, Cassels & Graydon LLP and Foley & Lardner LLP advising Fiserv.
The transaction, subject to customary approvals, is expected to close in the first half of 2025.
Parties
Company
Payfare Inc.
Company
1517452 B.C. Ltd.
Company
Fiserv, Inc.
Deal Type
Merger & AcquisitionIndustry
Banking/FinanceTransaction
$ 201,500,000Deal Status
ClosedClosing Date
03 March 2025